Republicans face growing corporate backlash after Capitol assault
Republicans in the U.S. Congress Face Backlash from Business Over Violence in Washington DC Last Week.
More than a dozen large American companies said they would stop campaign contributions to those who voted against victory Joe Biden.
They join a growing list of hotel giant Marriott, Citibank and big tech companies like Google..
Other donors are revising their strategies after supporters Donald Trump broke into the capitol.
At least five people died in the attack, which was an attempt to interfere with the transfer of power to President-elect Joe Biden..
Corporate donors often provide support funds to both of America’s largest parties.
However, many now appear to be reconsidering their plans for political donations following public backlash over the riots in Washington..
Accounting giant Deloitte, telecommunications company AT&T, American Express and Mastercard said they would refuse donations.
Residential rental service Airbnb promised «update your framework and not support those who voted against the announcement of the presidential election results».
Greeting card maker Hallmark, a major employer in Kansas, even demanded refunds from two Republican senators who objected to the election results..
Chemical giant Dow has gone beyond many companies by announcing that it will refuse donations for the entire term of Republican legislators’ tenure – up to six years for Senate deputies..
The suspension of donations from General Electric will last until the end of 2022. Thereafter, the staff council overseeing its policy action committee will consider requests for support from legislators who have opposed certification. «individually».
Tech giants Amazon, Facebook, Google, Microsoft and Verizon join JPMorgan Chase and Goldman Sachs, temporarily suspending all political donations.
The Hilton hotel chain, financial company Charles Schwab and manufacturing conglomerate 3M did the same..
It is unclear what impact these decisions will have on the political process.
There is currently a lull in post-election fundraising in Washington, giving companies and trade groups time to decide on their approach..
Twitter shares plunged about 6% on Monday, driving the company’s value down by $ 2 billion in the first day of trading after Donald Trump was banned from using the messaging platform..
The National Beer Wholesalers Association, the National Auto Dealers Association and the American Bankers Association have said they will reconsider their political donation strategy. Other leading donors, including the National Association of Home Builders and the National Association of Realtors, said they have yet to make a decision..
Some analysts have said the boycott may be fickle, as the need for access to Capitol Hill may ultimately outweigh the risk of being seen as the guarantor of those weakening U.S. democracy..
«It is very easy to suspend campaign donations two months after an election. The question is whether this policy will remain in effect», – noted Stanford University law professor Nathaniel Persili.